The Daily: Circle selloff questioned as analysts defend outlook, Bhutan offloads $37M in BTC, Bitmine adds $145M in ETH, and more
Analysts defend Circle's outlook despite a stock drop, while Bhutan sells $37M in BTC, and Bitmine increases its ETH holdings by $145M.Summary
The crypto market saw varied activity as analysts questioned Circle's recent stock selloff, attributing it to misinterpretations of the Clarity Act's impact on stablecoin distributors rather than issuers. Despite the selloff, analysts like those at Bitwise maintain a bullish long-term outlook for Circle, projecting a potential $75 billion valuation by 2030. Bhutan offloaded another $37 million worth of Bitcoin, adding to recent transfers totaling over $110 million, potentially signaling sales. Simultaneously, Tom Lee's Bitmine continued its aggressive ETH accumulation, adding $145 million worth, making it the largest known ETH treasury holder. Other news includes significant crypto outflows from South Korea and the recovery of long-lost Bitcoin linked to an Irish drug dealer, seized by authorities. Upcoming events include U.S. jobless claims data and token unlocks for Aerodrome Finance and Blast.
(Source：The Block)